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Expert gives forecast on inflation in Azerbaijan until end of 2021

Finance Materials 30 June 2021 18:00 (UTC +04:00)
Expert gives forecast on inflation in Azerbaijan until end of 2021

BAKU, Azerbaijan, June 30

By Zeyni Jafarov - Trend:

Inflation in Azerbaijan will remain in the range of 2-6 percent until the end of 2021, Head of the research and investment consulting department of Unicapital OJSC Seymur Ibadov told Trend.

According to Ibadov, this is the range the Central Bank of Azerbaijan (CBA) aims at.

He also said that the CBA noted the acceleration of inflationary processes in the document on inflationary expectations for 2021.

“An essential condition for economic development is keeping inflation within acceptable limits. The main factor is a possible acceleration of inflation in the medium or even long term,” the head of the department said.

Ibadov noted that the consumer price index in Azerbaijan in the first 5 months of 2021 increased by 4.2 percent compared to the same period of 2020.

According to the expert, prices for food, drinks and tobacco products increased by 4.8 percent, for non-food products - by 3.8 percent, paid services for the population rose by 3.4 percent.

"Only in May 2021, the CPI remained changed as compared to April 2021, but on annual basis, it increased by 4.9 percent," Ibadov said.

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